Politicians have recently been arguing endlessly about what constitutes Infrastructure.
All they need do is ask any construction worker. The Construction Industry’s ‘Boots on the Ground’ know exactly what infrastructure is, and their replies, in many different languages and colors, will be largely the same. Continue reading…
How and where to start?
The answer is pretty straightforward. Like most credit-based facilities, the best time to apply is when you don’t need it. And the absolute worst time is when you must be bonded in order to submit a bid and sign a contract for a job that you desperately want.
In any environment, pursuing opportunities without all your ducks lined up is a risky approach. However, during the pandemic, having a Surety Bond line in place in advance is more important than ever. Continue reading…
The Biden Administration’s plan looks to spend massive amounts to rebuild aging infrastructure in our country, and that is music to the ears of the construction industry.
Or is it?
Download a copy of the proposal, The American Jobs Plan. You will find it interesting reading. This is the actual release document from the White House, and it discusses the objectives and pertinent details of every aspect of the plan.
While one decade comes to an end, yet another is set to begin. How will this affect our Industry? What sector is pandemic proof? Where will most of the public and private work come from? These are some of the many questions facing our clients, and we can help.
Research funded by two key union contractor associations, covering the electrical and sheet metal trades, recently found an average 18% pandemic related impact from reduced productivity and added expenses. It is quite likely that other contractors, both union and non-union, might experience a similar impact
The productivity loss stems from a number of causes. For example, workers may remain home due to lack of child-care, or to tend to a sick family member. Continue reading…
For the past five years there has been a slow but steady exodus from city urban living to the suburbs and country communities, mostly due to the ability of corporate America to support employees working remotely.
Current popular sentiment is to leave the city for those where mobility does not present an issue, but what about those who are left behind? While suburban developments address the new mobility trends, potentially causing a large boom for the construction Industry as it ties into the USA’s Infrastructure Plan and 5G Rural Broadband, there will also be a major need to upgrade our cities.
Surety bonds are basically insurance products. So it’s not surprising that most surety bond agencies come from an insurance background.
It very well might.
If you happen to be in the Construction Industry and handle government contracts, that acronym may conjure thoughts of extra layers of compliance, issues with finding qualified firms or any number of other stress-related feelings.
Governments at all levels and many Fortune 1000 firms are requiring a percentage of their capital expenditures be set-aside for Certified Minority Firms. In addition, traditional non-MBE firms that compete for government contracts are often Continue reading…
It’s interesting how a slew of Latin legal words and terms are rarely used but synonymously conjure an action that is often easily overlooked. Force Majeure is the perfect term given the current worldwide state of affairs. How often has this clause been briefly considered or even skipped over when reading a construction contract? It may be time to re-read this clause and confirm how it applies to your job performance and contractual obligations, or those of your clients.
Job delays caused by labor shortages, gathering restrictions, delivery delays, and material back-orders as well as cost overruns and performance deficiencies may occur, and be beyond your control. As the world has come to a pause, you should be proactive and review existing contracts and any new ones you are considering. You should involve your attorneys, and should examine your supply chains and your own operations, to see how they may be affected. Continue reading…
Let’s face it. Getting bonded, like many other things in life, is necessary, but can seem like an awful hassle. And it sometimes is, with the required documentation and constant back and forth communications and delays. If you do a high volume of projects tasks such as renewals, cancellations, riders and other record keeping can be a challenge as well.
That was yesterday. New, streamlined web portals, such as the SuretyWave Bond Portal offered by Blaise Group, eliminate much of the tedium. You still have to supply financials and other documentation (we have a simplified underwriting process for bonds under $750K that helps solve that), but the process is so much faster and more convenient with SuretyWave.
